Mercer Health & Benefits, LLC is seeking candidates for the following full-time position based in the Richmond, VA, office (A telecommuting/hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with company policies.):
 

                                                Health Actuary – Senior Associate

We will count on you to:

Responsible for managing client projects that focus on employers’ health benefits strategies including financial projections, carrier selection, plan design optimization, employee contribution setting, IBNP valuations, benchmarking, well-being initiatives and renewal negotiations. Provide guidance and project management to junior actuarial team members responsible for running actuarial analyses associated with underwriting health benefit contracts, reserving, and projecting health-related costs. Independently review data analyses that are conducted by junior actuarial team members to ensure actuarial soundness, correct use of models and products, and reasonable assumptions. Assist with the training and development of junior actuarial team members. Independently perform and review moderately complex actuarial analyses and cost projections by using and modifying existing products, tools and pricing models in Excel, SAS, and other software with minimal input from senior project team members. Serve as the main point of contact between actuarial team and clients for actuarial projects related to clients’ employer-sponsored health plans including medical, pharmacy, dental, vision, life, disability and ancillary health programs. Draft client reports and presentations to summarize findings and implications, and to recommend a strategy, solution, or plan design to the client. Present deliverables to clients in partnership with consulting team. Partner with consulting team members to support with day-to-day client contact/management to resolve project-related questions and challenges. Participate in development of intellectual capital to further develop the company’s offerings as well as knowledge of health insurance actuarial services and products. Assist senior project team members on complex client teams in the development of business by identifying potential areas of business growth in existing projects and by providing assistance during proposal efforts or in responding to requests for information. Lead the business development on less-complex clients by identifying potential areas of business growth in existing projects and by providing assistance during proposal efforts or in responding to requests for information.

What you need to have: 

Must have a Master’s degree, or foreign equivalent, in Actuarial Science, Financial Mathematics, Finance, Economics, or a related field, plus three (3) years of experience in the job offered or in a related position. In the alternative, employer will accept a Bachelor’s degree, or foreign equivalent, in Actuarial Science, Financial Mathematics, Finance, Economics, or a related field plus five (5) years of progressively responsible post-baccalaureate experience in the position offered or a related position. Must have three (3) years (or five [5] years with a Bachelor’s) of experience with all of the following: Utilizing Excel for actuarial projects, including manipulating datasets using pivot tables, arrays, lookup tables, and built-in Excel functions; Underwriting and projecting future costs for health plans using historical plan experience and fees; Performing incurred-but-not-paid (IBNP) financial valuations to determine the outstanding claims liability to be reserved by the client; Modelling financial cost impacts from potential employee contribution changes and potential migration; Strategizing with clients on developing future Plan Design scenarios that addresses their benefit goals and communicating the financial impact of plan design changes; Leading actuarial and financial teams and managing internal and external deadlines; Reviewing actuarial analyses performed by team members and providing critical feedback on how the analysis and deliverable can be improved; Performing standard actuarial projects, including financial cost projections, reserving calculations, and experience reporting, with minimal direction and oversight; Performing Actuarial Certification calculations for CMS ACA Determination, Retiree Drug Subsidy (RDS), and Creditable Coverage; Communicating and presenting actuarial and financial results to clients, including senior management. Must have passed at least two (2) exams toward the attainment of an Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) credential.

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Mercer, a business of Marsh McLennan (NYSE: MMC), is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com, or follow on LinkedIn and X.

Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com.

Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.